Court upholds regulator order for the billionaire to take down posts containing footage of the April 15 stabbing of the Assyrian bishop
Damac Properties, Dubai’s largest private developer, has announced the appointment of Farooq Arjomand as the new chairman of the company, replacing Hussain Sajwani.
The announcement was made on Tuesday morning in a statement posted on Dubai Financial Market, where Damac is listed.
The new appointment takes place with immediate effect.
Sajwani is also the founder of Damac Properties.
The statement further noted that Ali Malallah Binjab has been named vice-chairman of Damac Properties with immediate effect.
Sajwani resigned last week and offered to take over the rest of Damac’s shares for $599 million through his Maple Invest Co. Ltd. He currently owns a 72 per cent stake in the developer.
Damac’s shares were down 0.77 per cent to Dh1.28 at the opening of the trade on Tuesday morning on Dubai Financial Market.
ALSO READ:
Damac Properties reported a first-quarter net loss of Dh189.6 million, up from Dh106.1 million posted a year earlier, despite a pick-up in sales.
The Dubai-based property developer said the increase in losses was mainly because it had yet to account for revenue from projects about to be completed.
waheed@khaleejtimes.com
Court upholds regulator order for the billionaire to take down posts containing footage of the April 15 stabbing of the Assyrian bishop
An extreme heat wave hit the country, forcing the authorities to shut down tens of thousands of schools and seminaries, say officials
Around half the country's provinces are officially in drought, and there's a 50 percent chance of the heat intensifying in the coming days
Homeowners are busy restoring services for the tenants and bringing their properties back to pre-flood level
The University offers an array of 35 accredited programs spread across its six colleges
This one-of-its- kind corporate readiness programme is offered by PwC’s Academy, the learning and development business of PwC Middle East.
The country houses 116,500 millionaires, 308 centi-millionaires with $100 million in wealth, and 20 billionaires, according to Henley and Partners
Home furniture and electrical or electronic waste disposal requests can be made; here's how